Regulator says price rises outpace inflation

Regulators have extended their deadline for an inquiry into veterinary pricing in the UK.

The Competition and Markets Authority (CMA), which launched the fact-finding mission in May last year, had initially planned to publish its final findings and recommendations by November 22 this year, but has now pushed that back six months to May 22, 2026.

In an official notice on its website, the CMA said it had had regard to several factors including the 'volume' of concerns raised and the resulting responses from large veterinary groups (LVGs).

An inquiry overview published by the CMA in February highlighted its initial findings, noting that while some aspects of the household pets vets industry 'appear to be working well', the price of veterinary services has raced ahead of inflation, rising by 60% from 2015-2023, compared to the inflation rate of 35%.

It added that pet medicine prices have 'increased significantly' in recent years amid 'large mark-ups' meaning consumers buy them for 'several times the cost of procuring them', noting that vets had replied that this allows other services to cost less.

In addition, the CMA said consumers 'face difficulties in making informed choices', faced with only about one in six vets practices publishing prices on their websites, although some said they had since added them since the start of the inquiry.

The CMA noted there had been a massive shift from independent vet-owned practices to those owned by LVGs, whose ownership of the market had rocketed from 10% in 2013 to 60%, adding a 'particular concern' that while most are now owned by non-vets, only individual veterinary surgeons are regulated by The Royal College of Veterinary Surgeons, with the 1966 legislation failing to keep up with changes in the sector.

Despite these concerns, the CMA praised vets and vet nurses working in the industry.

It said: "We have been hugely impressed by the dedication and commitment to pet owners and their animals shown by individual vets and vet nurses.

"While we are interested to explore the pressures faced by vets as employees and owners of businesses, nothing in our work should be taken to cast doubt on the professionalism, clinical skills or ethics of the vast majority of individual veterinary practitioners.

"This commitment and trust in the profession was clearly reflected in our pet owner survey: 88% of respondents agreed that their vet focused on the highest standard of care for their pet's health."

In an interview with BBC radio in response to the extension, Dr Elizabeth Mullineaux, President of the British Veterinary Association, said the industry had been impacted by rising costs, adding that treatments had 'advanced significantly' in recent years, meaning there were more ways to save pets but with an associated cost.

The BBC had reported that more owners were having their pets euthanized or delaying taking them to the vets due to rising costs.

Dr Mullineaux urged owners not to delay seeking treatment but to explain their situation to a vet, who will 'always prioritise the welfare of the animal in their care and work closely with owners to find treatment plans that work for their circumstances'.